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Suppose you have regressed Y on X, and the results indicate an R-squared of 0.02. An analyst examining the results claims that, with such a

Suppose you have regressed Y on X, and the results indicate an R-squared of 0.02. An analyst examining the results claims that, with such a low R-squared, this regression is unsuitable for making any predictions. Is this claim correct? Why or why not?

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